Containership scrapping soars [General]
Containership scrapping soared to new highs last month as prospects of a major clear out of older tonnage gathers momentum. Twenty ships with a combined capacity of 31,694-teu were sent to the breakers yard, according to data from Clarkson. Mos...
2009-04-29 11:32:13
Boxship market saw an uptick [Shipping]
Container volumes at the world's five largest container ports saw their first major uptick in months, a report said on Tuesday. "But it is still too early to call a bottom to volume declines that ports have seen since September 2009," the AXS-Alph...
2009-04-29 11:28:44
MES launches Shanghai marine engine service center [Equipment]
Mitsui Engineering & Shipbuilding (MES) announced on April 27th that it has established a wholly owned local subsidiary MES Technoservice (Shanghai) Co. in Shanghai as an after-delivery service center for its marine diesel engines. While ships equipp...
2009-04-29 11:22:50
Japan's Big 3 operators' earnings plummet [Finance]
Japan's big three operators, comprising Nippon Yusen Kaisha (NYK), Mitsui OSK Lines (MOL) and Kawasaki Kisen Kaisha (K Line), expect to sustain wide-margin reductions in revenues and profits due to the slump in the shipping market brought about by th...
2009-04-29 11:15:36
China Shipping strengthens LNG business [Offshore]
China Shipping (Group) plans to restructure China Shipping Group Gas Investment to make the company a wholly-owned subsidiary of China Shipping Development as part of a wider plan to strengthen its liquefied natural gas business. Under the plan, the ...
2009-04-29 11:10:02
VLGC rates revival depends on Middle East [Offshore]
Owners of very large gas carriers are waiting for Middle East producers to increase liquefied petroleum gas exports in May to halt the latest slide in charter rates. Freight rates for VLGCs have dropped 20% since the middle of April to $4,000 per ...
2009-04-29 11:05:40
Tokyo Gas builds world’s largest LNG tank [Offshore]
Tokyo Gas has unveiled plans to construct the world’s largest liquefied natural gas storage tank at a cost of ¥20bn ($207m). Japan’s largest gas utility is investing heavily in the future of its LNG operations just weeks after disclosing t...
2009-04-29 11:00:13
Petrobras ‘Comfortable’ Starting [Offshore]
Petroleo Brasileiro SA, Brazil’s state-controlled oil company, is “comfortable” starting production at the country’s pre-salt oil fields at current oil prices, the refining unit head said. The “break-even” oil price for developing th...
2009-04-29 10:42:42
Slashing orderbook good for shipyards [General]
A reduced global orderbook is actually in the best interests of shipyards as well as owners in the long run, maintained the president designate of shipowning body, BIMCO. Robert Lorenz-Meyer, speaking at TradeWinds’ Shipping China Energy confer...
2009-04-29 10:34:57
Chinese crisis [Shipbuilding]
It is reported that the world new ship contracts kept low at 693,700 DWT in March the fifth month with turnover down 1 million DWT. CANSI newly published survey showed China's ship industry continued the downturn from end 2008 to January and Febr...
2009-04-29 08:01:15
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